Common use of Limitations of Right to Assume Defense Clause in Contracts

Limitations of Right to Assume Defense. The Representative shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent other than as a result of money damages or other money payments.

Appears in 6 contracts

Samples: Merger Agreement (Services Acquisition Corp. International), Merger Agreement (Juniper Partners Acquisition Corp.), Merger Agreement (Arpeggio Acquisition Corp)

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Limitations of Right to Assume Defense. The Indemnifying Representative shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks seeks, as one of its principal claims, an injunction or equitable relief against Parentan Indemnitee; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent the Indemnitee other than as a result of money damages or other money payments.

Appears in 2 contracts

Samples: Securities Purchase and Exchange Agreement (North Shore Acquisition Corp.), Merger Agreement (Victory Acquisition Corp)

Limitations of Right to Assume Defense. The Indemnifying Representative shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parentthe applicable Indemnitee(s); or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent the applicable Indemnitee(s) other than as a result of money damages or other money payments.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (GSME Acquisition Partners I), Agreement and Plan of Reorganization (GSME Acquisition Partners I)

Limitations of Right to Assume Defense. The Representative Representatives shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent other than as a result of money damages or other money payments.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Ithaka Acquisition Corp), Merger Agreement (Ithaka Acquisition Corp)

Limitations of Right to Assume Defense. The Representative Representatives or Buyer, as the case may be, shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against ParentBuyer or Sellers; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent Buyer or Sellers other than as a result of money damages or other money payments.

Appears in 2 contracts

Samples: Membership Interest Purchase Agreement (Union Street Acquisition Corp.), Membership Interest Purchase Agreement (Union Street Acquisition Corp.)

Limitations of Right to Assume Defense. The Representative Stockholder shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent other than as a result of money damages or other money payments.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Endeavor Acquisition Corp.), Agreement and Plan of Reorganization (Endeavor Acquisition Corp.)

Limitations of Right to Assume Defense. The Representative Holder Representatives shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent other than as a result of money damages or other money payments. Parent does not have knowledge as of the date hereof of any such matters.

Appears in 1 contract

Samples: Merger Agreement (Apex Bioventures Acquisition Corp)

Limitations of Right to Assume Defense. The Representative Shareholder shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against ParentPurchaser; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent Purchaser other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Stock Purchase Agreement (CS China Acquisition Corp.)

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Limitations of Right to Assume Defense. The Representative Members shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Merger Agreement (Key Hospitality Acquisition CORP)

Limitations of Right to Assume Defense. The Representative Members shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against ParentHoldings, the Surviving Corporation or the Company; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent Holdings, the Surviving Corporation or the Company other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Merger Agreement (Global Services Partners Acquisition Corp.)

Limitations of Right to Assume Defense. The Representative Members shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parent; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent Key other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Key Hospitality Acquisition CORP)

Limitations of Right to Assume Defense. The Representative shall not be entitled to assume control of such defense and shall pay the fees and expenses of counsel retained by Parent if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation allegation, or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parenta Parent Indemnitee; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent or its Subsidiaries other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Black Ridge Acquisition Corp.)

Limitations of Right to Assume Defense. The Representative shall not be entitled to assume control of such defense if (i) the Third Party Claim relates to or arises in connection with any criminal proceeding, action, indictment, allegation or investigation; (ii) the Third Party Claim seeks an injunction or equitable relief against Parentthe Purchaser; or (iii) there is a reasonable probability that a Third Party Claim may materially and adversely affect Parent the Purchaser other than as a result of money damages or other money payments.

Appears in 1 contract

Samples: Stock Purchase Agreement (Global Logistics Acquisition CORP)

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